Apple Inc is reportedly launching a cheaper iPhone to take the competition head on even as it finds ways to curb its sagging sales. The company’s new iPhone is expected to be cheaper and smaller in size than its current smartphone models. Reports are now emerging to reveal that the company’s new phone will primarily be targeted at emerging companies, with a special emphasis on China – the largest market for smartphones in the world.

Apple has had a lot to contend with in the recent months because it is losing ground to more feature-packed, aggressively priced smartphones. This battle is playing out especially conspicuously in developing countries, where volume sales can make or break a brand.

Apple’s Press Event on Monday will End the Speculation

Even as those in the technology world train their focus on the much-awaited media event called by Apple on March 21, market analysts expected that the big announcement from Apple will come during this very event. There are reports indicating that the new smartphone from Apple will be called iPhone SE and is being seen as an attempt by Apple to target the mid-tier smartphone market.

This will not be Apple Inc’s first attempt at entering the teeming mid-tier market. It had ventured into this space three years ago but without much luck. The market for smartphones is showing unprecedented growth in countries in Asia (India and China), Africa, and the Middle East. Apple has tasted success in these markets but if it has to keep the cash registers ringing, the world’s most celebrated technology company may have to consider shrinking its profit margins.

What Features Can we Expect?

While there is no doubt that a more competitively priced iPhone will certainly appeal to consumers, there is no guarantee that it will turn Apple’s fortunes around in the markets that presently matter. Speculation is that the new Apple iPhone SE will have a 4-inch screen and will likely have all the key features of an iPhone. The price range of Apple’s phone is not clear yet.